Seth is to pay bob 400 in the 4th year and 600 in the 8th year for

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Seth is to pay bob 400 in the 4th year and 600 in the 8th year for a loan of 400. What is the Rate of Return that bob is getting? Interest is compounded monthly.

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Business Math

ISBN: 978-0133011203

10th edition

Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble

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Posted Date: Mar 06, 2024 12:56 AM

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Seth is to pay bob 400 in the 4th year and 600 in the 8th year for

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ANSWER IS To find the rate of return that Bob is getting on the loan we can use the formula for compound interest Given that Seth will pay Bob 400 in ... View the full answer

Business Math

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